IRS Medical Mileage on the Medical Expense Deduction. Much like the mileage deduction, you can use two methods to calculate car-related expenses for this deduction. The actual expense method lets you include out-of-pocket expenses like gas and oil.
Disregarded Entity Definition - What is a Disregarded Entity? What is a disregarded entity? A disregarded entity is a business entity which is considered to be an undivided part of the owner of the entity for federal tax purposes. That is, the entity is disregarded as an entity separate from the owner.
Why use a disregarded entity? The owner of a single member LLC who does not want to pay additional federal income taxes for the business entity can choose to be a disregarded entity. That is, the owner of the disregarded entity just needs to file Schedule C with their personal income tax like a sole proprietorship. This post is not intended to constitute the rendering of legal, accounting, or other professional services or to serve as a substitute for such services.